Consumption of tilapia is slated to hit a market revenue of $22.3 billion by 2033

The detailed research report on the global tilapia market focuses on the macro as well as microeconomic factors that are helping its development. The report also concentrates on the regulatory framework that is shaping the future of the global market. Furthermore, the research report also makes light of the existing, as well as prevailing, pricing structure, emerging areas of applications and imminent investment opportunities in the global market. These insights are based on a report on tilapia market by Fact.MR.

The global tilapia industry currently has a value of $14.1 billion and is estimated to reach a size of $22.3 billion by the end of 2033. Global demand for tilapia fish is expected to increase at 4.6% CAGR over the next ten years.

The tilapia study outlines the key regions — North America, Latin America, Europe and APAC — along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are Netuno Internacional S/A, Baiyang Aquatic Group, Regal Springs Tilapia and North Atlantic Fish Co. Inc.

Key takeaways from Fact.MR's tilapia market study

The global tilapia software market is worth $14.1 billion in 2023.
The market is predicted to touch $22.3 billion by the end of 2033.
The market for tilapia is anticipated to progress rapidly at a CAGR of 4.6% from 2023 to 2033 (forecast period).
Increasing health consciousness and growing demand for fish protein are prime factors propelling market growth.
The Nile tilapia segment is expected to increase at a CAGR of 4% during the forecast period 2023–2033.

Which species of tilapia will be popular going forward?

Based on species, the market for tilapia is segmented into Nile tilapia, Blue tilapia, Mozambique tilapia and Wami tilapia.

At present, Nile tilapia is the most widely consumed species of tilapia across the world. This species is primarily found in the Latin American, African and Middle Eastern parts of the world. Nile tilapia is preferred by a large number of people due to its high advantages for farming, both in technique and ecology. In ponds, Nile tilapia is capable of feeding on phytoplankton and requires much less maintenance, which makes it a suitable low-cost aquaculture alternative for farmers around the world. Demand for Nile tilapia fish is anticipated to evolve at 4% CAGR over the next ten years.

Competitive landscape

Key tilapia suppliers are focusing on expanding their business potential by acquiring new capital and launching new initiatives to meet the increasing demand for tilapia fish.

In October 2022, Tilabras, a Brazilian tilapia fish producer, announced that it had secured $9.7 million from Ocean 14 Capital, a London-based private equity impact investment fund. The investment was made on the grounds of sustainability and environment conservation as Ocean 14 looks to expand its portfolio in the same direction and Tilabras practices sustainable aquaculture.

In December 2022, FAI Farms, a multi-disciplinary team of farmers and scientists working on improving food security and maintaining sustainability, announced the launch of its new free-to-use tilapia welfare application. The application was developed by FAI while working with farmers and scientists from China, Brazil and Thailand. The app uses scientifically validated welfare indicators for nutrition, behavior and fish health.

More valuable insights on tilapia market

In the latest report by Fact.MR, the firm offers an unbiased analysis of the global tilapia market, providing historical data for the period of 2016–2020 and forecast statistics for the period of 2023–2033. In order to understand the global market potential, its growth and scope, the market is segmented on the basis of form (dried tilapia fillets, fresh or chilled tilapia fillets, frozen tilapia fillets and frozen whole tilapia), species (Nile tilapia, blue tilapia, Mozambique tilapia and Wami tilapia) and catch (wild catch and aquaculture) across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA).

Source: Fact.MR.

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